Talk:United States Consumer Price Index

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[edit] CPI-W

I was trying to figure out more specifically who is not included in CPI-W. The Statistical Abstract of the US (see citation in article) says those not included are

professional, managerial, and technical workers; the self-employed; short-term workers; the unemployed; and retirees and others not in the labor force.

The BLS, in http://www.bls.gov/opub/hom/pdf/homch17.pdf, says

professional and salaried workers, part-time workers, the self-employed, and the unemployed, along with households with no one in the labor force, such as those of retirees

Anyone know which is a more accurate/useful summary? If it's the BLS that's doing the actual measuring, is it better to go with the BLS' formulation?

--Ryguasu 17:51, 6 August 2007 (UTC)

[edit] CPI Chart

I don't understand what the relevance is of having the percentage change data related to the absolute CPI value. It makes it look impressive when the lines cross around 1992.

A more relevant chart would be the absolute change in the CPI compared to the absolute change in the exchange rate of the dollar since it was taken off the gold peg. The sharp upward trend beginning in the late 60s and early 70s coincides with the gold crisis in the United States. This is the period where a run on US gold prompted the IMF to create the SDR and a few years later abandon gold convertibility.

Similarly, the percentage difference in CPI could be measured against the percentage change of median income.

Olopez1ca (talk) 01:10, 23 May 2008 (UTC)

Also looking at the chart, the "Average" needs to be removed. The CPI is an index and an index value is reported monthly. This value is an index not really an "average." I assume that the index value is being reported and that nothing is actually being averaged here.

As for the other issues... the chart is not supposed to be comparing the percentage change and index value, these are just the two most common ways of looking at the CPI. A chart of CPI and median income percent changes wouldn't show much, a chart of CPI-adjusted median income would represent the same information but be more easily understood. Which exchange rate would be included in the chart? I don't think a chart like that would be very useful. It sounds like you want to show how the CPI changed after the dollar went to full fiat. If anything, I think we should include lines showing the end of the gold standard, Bretton Woods, and maybe events like the 73 oil crisis.--Bkwillwm (talk) 03:57, 23 May 2008 (UTC)